REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
REPORT OF THE DIRECTORS AND |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
FOR |
|
COMPLETE POOL CONTROLS LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
REPORT OF THE DIRECTORS AND |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 DECEMBER 2019 |
|
FOR |
|
COMPLETE POOL CONTROLS LIMITED |
COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2019 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Report of the Directors | 2 |
|
Balance Sheet | 3 |
|
Notes to the Financial Statements | 5 |
|
COMPLETE POOL CONTROLS LIMITED |
|
COMPANY INFORMATION |
for the Year Ended 31 December 2019 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Malvern View Business Park |
Stella Way |
Bishops Cleeve |
Cheltenham |
Gloucestershire |
GL52 7DQ |
COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913) |
|
REPORT OF THE DIRECTORS |
for the Year Ended 31 December 2019 |
|
The directors present their report with the financial statements of the company for the year ended 31 December 2019. |
|
PRINCIPAL ACTIVITY |
The principle activity in the year under review remains unchanged, namely the wholesale of recreational water chemicals |
and related dosing equipment. |
|
REVIEW OF BUSINESS |
After an excellent summer the previous year, the year ending 2019 was inevitably about consolidation. Business |
revenues were adversely affected by less favourable weather, yet margins held steady as hot tub chemicals grew despite |
a static pool chemical environment. Cost control measures enabled the company to produce reasonable returns. |
|
Despite a good beginning to the New Year, there are inevitable uncertainties around the COVID-19 outbreak. |
‘Staycation’ benefits will undoubtedly assist revenues, but costs and capacity / supply constraints may well ‘dampen’ |
performance and revenue capacity, respectively. |
|
We implore our partners, customers, suppliers and employees to stay safe and hope to support you through these |
challenging times. |
|
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2019 to the date of this |
report. |
|
|
|
|
|
|
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
|
ON BEHALF OF THE BOARD: |
|
|
|
|
|
|
|
|
|
COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913) |
|
BALANCE SHEET |
31 December 2019 |
|
2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
Investments | 6 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 7 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 12 |
|
|
Capital redemption reserve | 13 |
|
|
Retained earnings | 13 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913) |
|
BALANCE SHEET - continued |
31 December 2019 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
were signed on its behalf by: |
|
|
|
|
|
|
|
|
|
|
COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913) |
|
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2019 |
|
1. | STATUTORY INFORMATION |
|
Complete Pool Controls Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Significant judgements and estimates |
The following significant judgements and estimations have been used in the preparation of the the financial |
statements: provision against slow moving and obsolete stock; provision against potentially unrecoverable trade |
debtor balances; and estimation of the useful life of fixed assets. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Intangible assets |
Intangible assets are initially measured at cost. Amortisation is provided at the following annual rate in order to |
write off the asset over its estimated useful life. |
|
Trade Marks - 25% on cost |
|
Tangible fixed assets |
|
Short leasehold | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow |
moving stock. Cost is recognised as direct purchase cost plus absorption of a fair proportion of direct labour and |
overhead cost. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except |
to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
|
COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
|
Financial instrument |
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic |
financial instruments are initially recognised at transaction value and subsequently measured at their settlement |
value. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2018 -
|
|
4. | INTANGIBLE FIXED ASSETS |
Trade |
Marks |
£ |
COST |
At 1 January 2019 |
|
Additions |
|
At 31 December 2019 |
|
AMORTISATION |
At 1 January 2019 |
|
Amortisation for year |
|
At 31 December 2019 |
|
NET BOOK VALUE |
At 31 December 2019 |
|
At 31 December 2018 |
|
COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
|
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and |
leasehold | machinery | fittings |
£ | £ | £ |
COST |
At 1 January 2019 |
|
|
|
Additions |
|
|
|
At 31 December 2019 |
|
|
|
DEPRECIATION |
At 1 January 2019 |
|
|
|
Charge for year |
|
|
|
At 31 December 2019 |
|
|
|
NET BOOK VALUE |
At 31 December 2019 |
|
|
|
At 31 December 2018 |
|
|
|
|
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2019 |
|
|
|
Additions |
|
|
|
At 31 December 2019 |
|
|
|
DEPRECIATION |
At 1 January 2019 |
|
|
|
Charge for year |
|
|
|
At 31 December 2019 |
|
|
|
NET BOOK VALUE |
At 31 December 2019 |
|
|
|
At 31 December 2018 |
|
|
|
|
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2019 |
and 31 December 2019 |
|
NET BOOK VALUE |
At 31 December 2019 |
|
At 31 December 2018 |
|
COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
|
6. | FIXED ASSET INVESTMENTS - continued |
|
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
|
|
Registered office: Malvern View Business Park, Stella Way, Bishops Cleeve, Cheltenham, Gloucestershire. |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2019 | 2018 |
£ | £ |
Aggregate capital and reserves |
|
|
|
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
9. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
During the year the company incurred costs under operating leases of £132,956 (2018 - £143,842). |
|
10. | SECURED DEBTS |
|
Security has been given by way of a fixed and floating charge over the assets of the company. |
|
11. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 30,180 | 24,170 |
COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2019 |
|
11. | PROVISIONS FOR LIABILITIES - continued |
|
Deferred |
tax |
£ |
Balance at 1 January 2019 |
|
Provided during year |
|
Balance at 31 December 2019 |
|
|
12. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
|
Ordinary Shares | £1 | 142,128 | 142,128 |
|
A Ordinary Shares | £1 | 55,252 | 55,252 |
|
B Ordinary Shares | £1 | 4,450 | 5,050 |
(2018 - 5,050 ) |
201,830 | 202,430 |
|
13. | RESERVES |
|
The company has recognised the following reserves: |
|
Capital redemption reserve - comprises the nominal value of own shares repurchased. |
|
Retained earnings - comprises accumulated profits and losses plus other comprehensive income less dividends. |
|
14. | ULTIMATE CONTROLLING PARTY |
|
No individual or entity has overall control of the company. |
|
15. | EMI SHARE OPTIONS |
|
During the year ended 31 December 2019, the company granted 500 share options to certain employees in |
relation to the B Ordinary shares. At the date of grant these share options had an exercise price of £1. These |
options have been exercised post year end. |